Global transport and logistics group Neptune Orient Lines (NOL) has announced it intends to invest in eight large, high-speed containerships worth US$1 billion, subject to the satisfactory completion of contractual terms and documentation.

Each ship, to be built in South Korea and delivered in 2011, will have a capacity of 10,000 TEU and a speed of more than 26 knots. They will be deployed in APL's Asia-Europe trade.

Singapore-based APL provides global container transport. Its supply chain services arm, APL Logistics, provides international, integrated logistics services and solutions, employing the latest IT and data connectivity for supply chain visibility and control.